CONSOL Energy, headquartered in Pittsburgh, began life as a coal company some 150 years ago. For the past half dozen years MDN has reported on CONSOL’s transformation from coal company to natural gas company. That transformation is now nearly complete. In July, CONSOL filed paperwork with the Securities and Exchange Commission that lays out a plan to split the company in two, into a coal company and a natural gas exploration and production company (see CONSOL Energy’s Split into 2 Companies Nearly Complete, New Name?). CONSOL the coal company will retain the CONSOL Energy name and get various coal mines and other coal-related assets. The CEO of the coal company will be Jimmy Brock. Meanwhile, CONSOL the natural gas driller will get a new name and retain the other assets. Nick DeIuliis will remain president and CEO of the natgas company. Current CONSOL shareholders will get shares in the separated coal company, as well as retain their shares in the gas company. While no specific date is given for the final split, the company remains committed to getting it done sometime by the end of this year. Oh, what’s the new name for the gas company? CNX Resources Corp.…
CONSOL Energy, headquartered in Pittsburgh, began life as a coal company some 150 years ago. For the past half dozen years MDN has reported on CONSOL’s transformation from coal company to natural gas company. That transformation is now nearly complete. In July, CONSOL filed paperwork with the Securities and Exchange Commission that lays out a plan to split the company in two, into a coal company and a natural gas exploration and production company (see 